Debt Ceiling & Gold – Hype vs Reality (Video)
In his latest video blog, Peter Schiff explains why Goldman Sachs is completely wrong with its prediction that gold will plummet if the debt ceiling is raised. Peter also reminds us that he’s always predicted that Obama would make the worst possible choice for replacing Bernanke as Fed Chairman: Janet Yellen.
Not raising the debt ceiling – that is not why somebody’s going to buy gold. Not raising the debt ceiling would be bearish for gold. Why? Because if the debt ceiling is not raised, that means the government can’t go deeper into debt. That means government spending has to be slashed. That would also bring the US into a badly needed and way overdue recession… What’s bullish for gold is raising the debt ceiling.”
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On Friday, Peter participated in an exhilarating debate over the merits of gold and Bitcoin. Professor of economics Nouriel Rabini joined Peter to debate Erik Voorhees and Anthony Scaramucci, two proponents of Bitcoin. They cover a lot of ground in their 2+ hour debate, so be sure to watch the full video on Peter’s youtube channel.
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Peter appeared on OAN’s Real America with Dan Ball to discuss new prospective income taxes, the latest idiotic craze in politics. He starts by explaining why President Biden’s desired policy isn’t even an income tax:
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Peter recently appeared on Market Overtime with Oliver Renick for an interview. In their wide-ranging discussion, Peter speaks on monetary policy, the reliability of inflation data, and reasons to avoid Bitcoin.
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